I'll admit. I've never heard that word used before. Inflation, yes. Recession, yes. Stagflation, yes. Stag-deflation, no. From our favorite, very pessimistic, but usually right Nouriel Roubini: "The Coming Global Stag-Deflation".
I'm still not sure we're headed for deflation though. How can we be with the $10T debt and everyone promising to lower taxes? Oh, yea, the printing press.
Deflation rocks. As long as you have a job.